Publication:
Fiscal Policy Volatility and Growth in Emerging Markets and Developing Economies

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dc.contributor.authorMarioli, Francisco Arroyo
dc.contributor.authorFatás, Antonio
dc.contributor.authorVasishtha, Garima
dc.date.accessioned2023-04-19T15:53:19Z
dc.date.available2023-04-19T15:53:19Z
dc.date.issued2023-04-19
dc.description.abstractThis paper studies the volatility of fiscal policy in a large sample of countries with a focus on emerging markets and developing economies and commodity exporters over 1990–2021. The findings show that fiscal policy has been more volatile in emerging markets and developing economies than in advanced economies, and in commodity exporters relative to non-commodity exporters over this period. The degree of commodity dependence, and institutional and policy variables can explain a large percentage of the cross-country variation in volatility. The existence of fiscal rules, a more liberalized capital account, and more flexible exchange rates are all associated with lower fiscal policy volatility. The paper also shows the negative macroeconomic consequences of this additional volatility on economic growth, finding that, over a 30-year period, it can explain 8 percent of the income gap between the emerging markets and developing economies and advanced economies in the sample.en
dc.identifierhttp://documents.worldbank.org/curated/en/099836104122394992/IDU00245f7d700ec5047fd09b3d0ac254356ff33
dc.identifier.doi10.1596/1813-9450-10409
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39711
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Papers; 10409
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectFISCAL POLICY
dc.subjectVOLATILITY
dc.subjectGROWTH
dc.subjectEMERGING MARKETS
dc.subjectCOMMODITY EXPORTERS
dc.subjectCOMMODITY DEPENDENT EXPORTERS
dc.titleFiscal Policy Volatility and Growth in Emerging Markets and Developing Economiesen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleFiscal Policy Volatility and Growth in Emerging Markets and Developing Economies
okr.date.disclosure2023-04-12
okr.date.lastmodified2023-04-13T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099836104122394992/IDU00245f7d700ec5047fd09b3d0ac254356ff33
okr.guid099836104122394992
okr.identifier.docmidIDU-0245f7d7-0ec5-47fd-9b3d-ac254356ff33
okr.identifier.doi10.1596/1813-9450-10409
okr.identifier.doihttp://dx.doi.org/10.1596/1813-9450-10409
okr.identifier.externaldocumentum34040274
okr.identifier.internaldocumentum34040274
okr.identifier.reportWPS10409
okr.import.id463
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099836104122394992/pdf/IDU00245f7d700ec5047fd09b3d0ac254356ff33.pdfen
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicInternational Economics and Trade::Export Competitiveness
okr.topicMacroeconomics and Economic Growth::Commodities
okr.unitProspects Group (DECPG)
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